Exane Derivatives Acquires Shares of 8,629 First Industrial Realty Trust, Inc. (FR)

Exane Derivatives acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 8,629 shares of the real estate investment trust’s stock, valued at approximately $288,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new stake in First Industrial Realty Trust during the first quarter worth approximately $146,000. World Asset Management Inc acquired a new stake in First Industrial Realty Trust during the second quarter worth approximately $205,000. Raymond James & Associates acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $211,000. Vident Investment Advisory LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $236,000. Finally, OppenheimerFunds Inc. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $246,000. 90.80% of the stock is currently owned by institutional investors.

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In related news, CFO Scott A. Musil sold 16,300 shares of First Industrial Realty Trust stock in a transaction on Friday, April 27th. The shares were sold at an average price of $30.31, for a total value of $494,053.00. Following the transaction, the chief financial officer now directly owns 108,672 shares in the company, valued at approximately $3,293,848.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Johannson L. Yap sold 19,156 shares of First Industrial Realty Trust stock in a transaction on Friday, April 27th. The shares were sold at an average price of $30.24, for a total transaction of $579,277.44. Following the completion of the transaction, the insider now owns 272,877 shares in the company, valued at $8,251,800.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,240 shares of company stock worth $7,494,822. Insiders own 1.71% of the company’s stock.

Shares of First Industrial Realty Trust opened at $31.83 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $4.07 billion, a PE ratio of 20.42 and a beta of 0.85. First Industrial Realty Trust, Inc. has a 12-month low of $27.61 and a 12-month high of $34.04.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.17. The business had revenue of $99.77 million for the quarter, compared to analyst estimates of $98.86 million. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.01%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. analysts anticipate that First Industrial Realty Trust, Inc. will post 1.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were given a dividend of $0.218 per share. The ex-dividend date was Thursday, June 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 2.74%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 55.41%.

A number of analysts have weighed in on the stock. Jefferies Financial Group cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research lowered shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Finally, Mizuho upgraded shares of First Industrial Realty Trust from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.86.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Recommended Story: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding FR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Industrial Realty Trust, Inc. (NYSE:FR).

Key Themes to Track When Dunkin' Brands Reports Earnings

Dunkin' Brands Group�(NASDAQ:DNKN) reports its second-quarter 2018 results next week on July 26.�The quick-service restaurant chain has chalked up a stock price return of 35% over the last 12 months, due in part to investors' confidence in its strategy of investing in franchisee growth.

Will DNKN shares continue to rise after the company's upcoming earnings release? The following are key themes that investors can use to measure next week's report against current company strategy and goals.

Comparable-store sales and other vital measures

Dunkin' Brands' comparable-store sales in its largest segment, Dunkin' Donuts U.S., dipped 0.5% in the first quarter of the year, as higher revenue per transaction was offset by lower traffic.�Among other segments, Dunkin' Donuts International comps improved by 2.1% and the�company's Baskin-Robbins International segment posted attractive comps growth of 10%, offsetting a Baskin-Robbins U.S. comps dip of 1%.

Management typically only provides a comparable-sales growth target for Dunkin' Donuts U.S. as it comprises more than three-quarters of company revenue (excluding advertising revenues). For the full 2018 year, management expects Dunkin' Donuts U.S. to deliver comps growth of 1%, although the second quarter may persist in a flat to negative trend as we'll discuss below.

As for other important measures, Dunkin' Brands has guided investors to expect companywide revenue growth in the low- to mid-single digits and operating income expansion in the mid- to high-single digits in 2018. For comparative purposes, revenue and operating income in the first quarter expanded by 1.7% and 3.5%, respectively.

Finally, the company also is seeking to reduce general and administrative (G&A) expense over the full year by 5%. G&A expense dropped less than 1 percentage point against the prior year in the first quarter of 2018.

New leadership at the helm

As shareholders who closely follow the company already know, last week, CEO Nigel Travis announced his retirement and immediately handed the reins to his chosen successor, Dave Hoffman.�Travis has been appointed executive chairman of the company's board of directors and plans to remain active in the business, with a focus on international restaurant expansion.

Hoffman, a veteran of competitor McDonald's Corporation�joined Dunkin' Brands in 2016 as head of Dunkin' Donuts U.S. He's led the effort to simplify Dunkin' Donuts' menu and modernize its locations, while increasing brand relevancy in the midst of sharp competition.

Investors should keep an ear open for any initial signs of strategy changes during the company's upcoming earnings conference call. Since Hoffman has already spent the last two years reinvigorating the U.S. franchise, any departures from the current plan are likely to occur in the company's larger global business and/or Baskin-Robbins ice cream revenue stream.

Update on the simplified menu

Last quarter, the company reported that it had completed the rollout of its simplified menu through 100% of the Dunkin' Donuts U.S. system. This initiative included the removal of 10% of items that franchisees were previously required to offer, as well as the elimination of an additional 23 optional products.

Management has projected an initial drag of 1 percentage point on Dunkin' Donuts U.S. comps in the first months following the launch, which investors can take to mean the second quarter. Thus, the full-year comps target of 1% growth in the U.S. Dunkin' business may end up being a task slated for the back half of the year.

Along with a store revamp that will see at least 50 technology-enabled, next-generation locations open this year (between remodels and new units), menu innovation may prove one of Dunkin' Brands' most potent competitive weapons in the coming years. For those interested, I've written a more in-depth analysis on the potential effects of the simplified menu in an article from late spring of this year.�

A simplified menu doesn't mean the end of enticing limited-time offers. Image source: Dunkin' Brands.

Packaged-foods growth

Consumer-channel sales have become an attractive, emerging revenue source for Dunkin' Brands. Last year, the company derived nearly 5% of total revenue from the licensing fees it earned in the consumer packaged goods (CPG) category.�Dunkin' Brands licenses its trademarks and product formulas to the J.M. Smucker Co. for sales of packaged coffee, to Keurig Green Mountain and Smucker for K-cup pod sales,�and to the Coca-Cola Corporation for sales of ready-to-drink Dunkin' Donuts iced coffee.

Branded Dunkin' packaged foods are outpacing the rest of the business: During the first quarter, management pointed out that retail sales of these products in grocery and convenience channels expanded at a rate of 10%.�The licensing fees from CPG sales get classified in the company's "other revenue" segment, and management expects such sales to expand the other revenue business in the high-single-digits range this year. In the first quarter, other revenue increased just 0.5%; expect to see a much stronger result in the second quarter.

Share repurchases

Following on the heels of a major share-repurchase exercise of $650 million, which was conducted in the first quarter of 2018, Dunkin' Brands announced a new buyback program in May of this year.�The organization's board of directors has approved a two-year, $250 million share-repurchase authorization. Shareholders appear to appreciate -- and expect -- the company's regular share-buying programs. By its own count, Dunkin' Brands has bought back $2.65 billion worth of its stock since becoming a public company in 2011.

For investors, it's important to know how fast the company intends to run through this newest authorization.�This is a topic that will likely be addressed by CFO Kate Jaspon during next Thursday's earnings call. My guess is that management will take its time making stock purchases under the new plan.

Dunkin' Brands currently has a debt-to-EBITDA ratio of 6.25�-- leverage that's near the upper end of an acceptable limit. Of course, an appreciable amount of the company's debt has arisen from its practice of frequent stock repurchases. From a practical standpoint, the organization will probably keep a minimal pace of repurchasing over the next few quarters as it builds up more cash and borrowing capacity via its strong cash flow.

Investmentaktiengesellschaft Fuer Langfristige Inv Buys Facebook Inc, Sells Shake Shack Inc, NOW Inc

Investment company Investmentaktiengesellschaft Fuer Langfristige Inv buys Facebook Inc, sells Shake Shack Inc, NOW Inc, Eagle Bulk Shipping Inc during the 3-months ended 2018-06-30, according to the most recent filings of the investment company, Investmentaktiengesellschaft Fuer Langfristige Inv. As of 2018-06-30, Investmentaktiengesellschaft Fuer Langfristige Inv owns 16 stocks with a total value of $661 million. These are the details of the buys and sells.

Added Positions: FB, FAST, TRIP, Reduced Positions: BRK.A, SHAK, MSFT, DNOW, Sold Out: EGLE,

For the details of INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=INVESTMENTAKTIENGESELLSCHAFT+FUER+LANGFRISTIGE+INVESTOREN+TGV

These are the top 5 holdings of INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGVMicrosoft Corp (MSFT) - 1,530,000 shares, 22.84% of the total portfolio. Shares reduced by 2.17%Alphabet Inc (GOOGL) - 86,580 shares, 14.8% of the total portfolio. Berkshire Hathaway Inc (BRK.A) - 325 shares, 13.87% of the total portfolio. Shares reduced by 4.41%Tucows Inc (TCX) - 1,028,992 shares, 9.45% of the total portfolio. Fastenal Co (FAST) - 1,000,000 shares, 7.28% of the total portfolio. Shares added by 11.11%Added: Facebook Inc (FB)

Investmentaktiengesellschaft Fuer Langfristige Inv added to a holding in Facebook Inc by 23.93%. The purchase prices were between $155.1 and $202, with an estimated average price of $180.53. The stock is now traded at around $208.57. The impact to a portfolio due to this purchase was 0.82%. The holding were 145,000 shares as of 2018-06-30.

Sold Out: Eagle Bulk Shipping Inc (EGLE)

Investmentaktiengesellschaft Fuer Langfristige Inv sold out a holding in Eagle Bulk Shipping Inc. The sale prices were between $4.75 and $6.11, with an estimated average price of $5.44.

Here is the complete portfolio of INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV. Also check out:

1. INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV's Undervalued Stocks
2. INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV's Top Growth Companies, and
3. INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV's High Yield stocks
4. Stocks that INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV keeps buying

Stifel Financial Corp Trims Stake in Goldman Sachs BDC Inc (GSBD)

Stifel Financial Corp trimmed its position in Goldman Sachs BDC Inc (NYSE:GSBD) by 48.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,440 shares of the financial services provider’s stock after selling 11,736 shares during the quarter. Stifel Financial Corp’s holdings in Goldman Sachs BDC were worth $238,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new stake in Goldman Sachs BDC during the first quarter worth approximately $204,000. Jane Street Group LLC bought a new stake in Goldman Sachs BDC during the fourth quarter worth approximately $225,000. MML Investors Services LLC bought a new stake in Goldman Sachs BDC during the fourth quarter worth approximately $268,000. Raymond James Financial Services Advisors Inc. increased its stake in Goldman Sachs BDC by 41.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,083 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 6,226 shares during the last quarter. Finally, Greenwich Investment Management Inc. increased its stake in Goldman Sachs BDC by 6.7% during the first quarter. Greenwich Investment Management Inc. now owns 46,730 shares of the financial services provider’s stock worth $894,000 after acquiring an additional 2,925 shares during the last quarter. 35.21% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages have weighed in on GSBD. Zacks Investment Research cut Goldman Sachs BDC from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised Goldman Sachs BDC from a “sell” rating to a “hold” rating in a research note on Friday. National Securities raised Goldman Sachs BDC from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $23.00 in a research note on Monday, May 7th. Raymond James reissued a “strong-buy” rating on shares of Goldman Sachs BDC in a research note on Wednesday, May 9th. Finally, Credit Suisse Group reduced their price objective on Goldman Sachs BDC to $24.00 and set a “neutral” rating on the stock in a research note on Monday, May 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.00.

Goldman Sachs BDC opened at $21.47 on Tuesday, according to Marketbeat.com. The company has a market cap of $866.98 million, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. Goldman Sachs BDC Inc has a one year low of $18.78 and a one year high of $23.20. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $36.19 million. Goldman Sachs BDC had a return on equity of 11.09% and a net margin of 38.13%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. equities research analysts predict that Goldman Sachs BDC Inc will post 1.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.38%. Goldman Sachs BDC’s dividend payout ratio is 86.96%.

Goldman Sachs BDC Company Profile

Goldman Sachs BDC, Inc is a closed-end management investment company. The Company is a specialty finance company, which is focused on lending to middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.

Want to see what other hedge funds are holding GSBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs BDC Inc (NYSE:GSBD).

Bond Funds With Flexibility

With the broad bond market down 2% so far this year, it��s easy to see the appeal of a fund that can invest in the corners of the market that are working. That��s where so-called unconstrained bond funds and their cousins, multisector bond funds, can help.

See Also: 6 Great Low-Fee Bond Funds

As the name implies, unconstrained funds (classified as ��nontraditional�� funds by Morningstar) can invest in a variety of fixed-income assets, from investment-grade corporate debt to junk bonds issued by firms with below-average credit ratings to emerging-market IOUs. They can hold outsize slugs of the fund��s assets in the bond sectors they prefer, or they can sell short (a bet that prices will fall) the securities they see headed south. Some of the funds can even hold stocks. Multisector bond funds are nearly as flexible, but some have limits��albeit broad��on how much may be invested in a given sector.

But the increased freedom comes with some extra risk, especially when big wagers go wrong. In one striking example, Janus Henderson Global Unconstrained Bond, the fund run by erstwhile ��bond king�� Bill Gross, lost 3% in a single day in May, caught off-balance by a bet that German bonds would fall in price relative to Italian bonds (the market moved the other way). There are other caveats. Many of the funds in the two categories don��t have long track records, and expense ratios can be pricey.

We think the funds below represent the best combination of flexibility and moderate risk. They come with reasonable expenses and have shown they can withstand periods of market volatility. All are geared to prosper as rates rise, and most important, they are run by managers capable of taking full advantage of their freer rein. Returns and other data are through June 15.

DoubleLine Flexible Income (DLINX, 30-day yield 4.0%)

This four-year-old unconstrained fund doesn��t have much of a track record, but its managers sure do. Jeffrey Gundlach is a legend, and his comanager, Jeffrey Sherman, is quickly making a name for himself. Together, they have nearly five decades of asset-management experience between them.

The fund is well fortified against rising rates. It has a low duration��a measure of interest-rate sensitivity��of 1.3 years. A duration of 1.3 implies that if interest rates rise one percentage point, the fund��s net asset value would drop by 1.3%. The typical nontraditional bond fund has a 1.7-year duration, and it��s 5.9 years for the Bloomberg Barclays U.S. Aggregate Bond index, a proxy for the market overall.

Not only that, but Flexible Income��s managers have recently focused on bonds that do well in rising-rate environments. The fund has a 43% allocation to floating-rate debt. These loans pay variable interest rates pegged to short-term interest rate benchmarks that typically reset every 30 to 90 days, rising along with market rates.

Another favorite of late has been mortgage-backed securities. Non-agency mortgage debt��bundles of mortgages that aren��t guaranteed by the U.S. government��make up more than 20% of the portfolio.

But these instruments aren��t without risk. Both floating-rate debt and non-agency mortgage-backed securities are typically rated below investment grade, which means they carry greater risk that the issuers will default on their loan payments.

Since it launched in 2014, Flexible Income has returned 3.1% per year, on average��more than a percentage point better than the Aggregate index, with 32% less volatility.

Loomis Sayles Bond (LSBRX, 3.3%)

The managers of this multisector bond fund��Matthew Eagan, Dan Fuss, Brian Kennedy and Elaine Stokes��love a good bargain and look for promising bonds that have been unfairly punished. The value focus can make for a bumpy ride. In 2015, for instance, the team loaded up on high-yield corporate debt, particularly in the floundering energy sector as oil prices plummeted. That year, the fund posted a 7% loss��an eyebrow-raising decline for a bond fund��as energy bonds continued to flail. But investors who held on were rewarded when Loomis Sayles returned a cumulative 16.2% over the next two years, compared with 6.2% for the Agg index.

The managers maintain hefty positions��currently 44% of the fund��s assets��in the risky territories of high-yield corporate bonds (which come with higher default rates than investment-grade corporates) and non-dollar-denominated bonds (which are sensitive to currency movements). But Loomis Sayles has recently put a foot in the conservative camp, too, with a 30% stake in cash and short-term Treasuries. This pile of liquid assets lowers the fund��s overall sensitivity to interest rates��its duration is currently 3.2 years��and can be put to work quickly when a compelling opportunity arises, says Stokes.

The fund has rewarded patient investors. Over the past 15 years, its 6.3% annualized return bests the Agg index, as well as 84% of multisector funds. Including the first half of 2018, the fund has beaten similar funds in nine of the past 10 calendar years.

Metropolitan West Unconstrained Bond (MWCRX, 3.6%)

The team that manages this fund likes to work under some constraints, despite the fund��s name. They keep the fund��s duration between two and five years, and they stick almost exclusively with bonds, here and abroad, that are denominated in U.S. dollars. The managers say they have no crystal ball when it comes to assessing how interest rates and currencies will move. So they��d rather hunt for undervalued debt within their preferred sectors, says Stephen Kane, a comanager along with Laird Landmann, Tad Rivelle and Bryan Whalen.

Kane says many bond sectors look expensive these days, including emerging-markets debt and low-quality corporate issues. The managers prefer securitized debt: bonds backed by bundles of assets, such as residential or commercial mortgages and student, home-equity or auto loans. Such bonds account for 69% of the portfolio.

The lower-grade loans in these bundles are offset by higher-quality IOUs; some, such as student loans backed by the Department of Education, carry Uncle Sam��s guarantee. The overall result, says Kane, is a triple-B-style yield with a triple-A caliber default rate.

Scouting bargains has paid off for the fund in the past. In late 2011, high-yield and emerging-markets bonds were on sale, says Kane, as sovereign debt crises in Europe and headlines about a possible U.S. government default sowed volatility in the broad bond market and roiled riskier assets. The managers put 30% of the portfolio in emerging-markets bonds and high-yield corporate debt. The following year, the fund returned 15.8%, trouncing the Agg index and 98% of unconstrained funds. Since its 2011 inception, the fund��s 5.5% annualized return has beaten the index by an average of 3.4 percentage points per year.

Pimco Income (PONAX, 3.5%)

Managers Daniel Ivascyn and Alfred Murata tackle the vast fixed-income world by dividing the portfolio into two parts. In one portion, they hold high-yielding bonds that will excel in a growing economy. In the other, they hold high-quality debt that the pair expect to perform well when growth slows. They calibrate the two sides of the portfolio depending on Pimco��s current assessment of the economy and the bond market. When the firm sees risks on the horizon, the managers shift more of the fund��s assets into the high-quality group.

The managers have become more cautious recently. Bonds look richly priced, they say, and although global economies still look healthy, the U.S. economic recovery is getting long in the tooth. So they��ve added to the fund��s position in high-quality assets, such as U.S. government bonds, which currently make up about half of the fund. Income still has a big chunk of its assets devoted to emerging-markets and high-yield corporate debt. The managers�� biggest high-yield bet is in non-agency mortgages, which they say should continue to do well in a strong U.S. housing market. Over time, the duo��s balanced approach has paid off. Income has bested the Agg index in nine of the past 10 calendar years, including so far in 2018. The fund��s A shares come with a 3.75% sales charge, but investors can purchase them without paying a load or a transaction fee at online brokers, including Fidelity and Schwab.

See Also: The 8 Best Income Funds for a Scared Market Show comments

Asia stocks log another day of broad losses amid unrelenting trade worries

Asian markets logged another mostly losing session on Thursday, as investors counted down to the potential start of a new and worrying phase in a global trade spat.

The Shanghai Composite SHCOMP, -0.91% �closed down 0.9%, marking its third-straight losing session, while the tech-heavy China Shenzhen ChiNext Composite 399106, -2.20% �fell 2.2%, after logging a 2.6% decline on Wednesday.

Tech stocks have been a focal point for trade volleys between the U.S. and China. A U.S. move to block China Mobile CHL, -0.70% 0941, +0.73% from its market was followed by the Chinese temporarily halting Micron Technology Inc.��s MU, -5.51% �memory-chip sales in that country. U.S. markets will reopen on Thursday, a day after the Independence Day holiday, but closed out Tuesday��s session with losses, concentrated in technology stocks.

Read: Trade-war tracker: Here are the new levies, imposed and threatened

In the latest development on the trade-battle front, Chinese officials refuted media reports that the country will fire the first shots in its continuing skirmish with the U.S. The customs bureau announced Thursday that its tariffs on U.S. goods will kick in only after the Trump administration��s levies on $34 billion worth of Chinese products are implemented, a move expected to come Friday.

Elsewhere, Hong Kong��s Hang Seng Index HSI, -0.21% �fell 0.5%, while Japan��s Nikkei NIK, -0.78% �dropped 0.8% and Korea��s Kospi SEU, -0.35% fell 0.4%. The Taiwan Taiex Y9999, -1.03% �dropped 1%.

On the upside, New Zealand��s NZX 50 NZ50GR, +0.41% rose 0.4% and Australia��s S&P ASX 200 XJO, +0.52% finished up 0.5%.

Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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Comment Related Topics Asia Markets China Japan Australia Singapore Foreign Investment Quote References SHCOMP -25.24 -0.91% 399106 -34.33 -2.20% CHL -0.31 -0.70% 0941 +0.50 +0.73% MU -3.00 -5.51% HSI -59.58 -0.21% NIK -170.05 -0.78% SEU -7.91 -0.35% Y9999 -110.06 -1.03% NZ50GR +37.21 +0.41% XJO +32.10 +0.52% Show all references MarketWatch Partner Center Most Popular Harvard University is fighting to keep its secretive admissions process under wraps The 21st Century has not been the American Century How will investors know if there��s a full-blown trade war? Here��s what Wall Street says Move over, Hyperloop pods, here come the new blimps While visiting my dying stepmother, I discovered her children had looted my father��s estate Community Guidelines �� FAQs

Stocks in the news: Ashoka Buildcon, Dena Bank, Fortis, Vedanta, Tech Mahindra

Here are the stocks that are in news today:

Ashoka Buildcon: The firm received Rs 22.4 crore in a settlement agreement with NHAI.

Shipping Corporation: Vijay Jadhao appointed as non-official, part-time (Independent) Director on the Board of SCI.

Fortis Healthcare:��The binding bids will be evaluated by the Board of Directors of the Company in consultation with its advisors

related news Stocks in the news: Hero MotoCorp, Dr Reddy��s Labs, Nestle, Tata Power, NCC Stocks in the news: IDBI Bank, Tata Motors, MOIL, TCS, Tata Steel, Cadila, Eicher Motors Stocks in the news: ICICI Bank, PNB, JSPL, Insecticides India, RBL Bank, SBI, Fortis

ISGEC Heavy Engineering:�The firm has emerged as L-1 bidder for an order worth Rs 700 crore.

GE Power India has been awarded twin boiler equipment orders by BHEL worth approximately Rs 467.9 crore

ICICI Prudential: Board approves appointment and remuneration of NS Kannan as MD and CEO

ISGEC Heavy Engineering emerged L-1 in reverse auction in order for Flue Gas Desulphurization (FGD). The value ofthe expected order is about Rs 700 crore

Tata Coffee: Company gets shareholder nod to reappoint Sanjiv Sarin as MD and CEO and Chacko Purackal Thomas as Deputy CEO

ICRA:�Downgrades Aspire Housing to A+ From AA-. It is�the housing finance arm of�Motilal Oswal Securities

United Bank of India hiked MCLR by 10 basis points across all tenors from July 5

Kwality board concluded to defer the decision on buyback/bonus and payment of interim dividend issue for the time being

Vedanta to raise up to Rs 1,500 cr through NCDs

VST Tiller sold 2948 power tiller and 871 tractors in June 2018

Dena Bank to sell 60.5 lakh shares in 3 entities

Sadbhav Infra achieves financial closure of Sadbhav Jodhpur Ring Road, a wholly owned subsidiary of the company

No plans to close operations at Brady House branch in Mumbai: PNB

Tech Mahindra signs IT pact with UK university

APL Apollo board meeting on July 6 to consider and approve the allotment of NCD's on private placement basis

Cholamandalam Investment board meeting on July 27 to consider issue of NCD and Q1 results

M&M Financial Services approved allotment of NCDs worth Rs 643cr

International Finance Corporation invests USD 100 million in Mahindra Finance

Punj Lloyd to consider stock split of preference shares on July 30

Shree Cements incorporates two investment firms in Dubai

Electrosteel Casting board meeting� on July 12 to consider the proposal for raising of funds by issuance of equity shares on preferential basis First Published on Jul 4, 2018 07:44 am

Domo plunges after volatile public debut

Domo, a Utah-based analytics company, saw its stock price fall more than 13 percent Monday morning, following a rocky public debut on Friday.

After bouncing around the board, Domo��s price settled Friday at $27.30 per share, 30 percent above its opening value of $23.80.

Domo opened Monday morning nearly 6 percent lower at $25.43, and is now hovering around $23.

Other tech IPOs this year have proven more successful so far, including Spotify, Dropbox and Zuora.

Domo, once privately valued at over $2 billion, had negative cash flow as of the end of last year and only $71 million in cash as of April, according to its most recent filing. The company is now valued at less than $600 million on the public market.